Codelco Would Keep More Profits If Carolina Toha Wins the Presidency in Chile
Top copper miner Codelco would be able to retain more profit to help dig itself out of debt and overhaul its aging deposits if Carolina Toha wins this year's presidential election in Chile, according to her economic spokesperson.
The state-owned firm, which has handed over 70% of its profit under current government policy, should be allowed to keep more as it spends at a record clip to revert a slump in copper output and enters the lithium business, Alvaro Garcia said, without specifying how much more.
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